97202 Property Tax Rate

Property owners in ZIP code 97202 (Portland, Oregon) pay a median of $6,677/year in property taxes on homes valued at $684,800. This translates to an effective tax rate of 0.97%, which is 32% above the Oregon state average of 0.74%.

The monthly property tax burden for a median-valued home in 97202 is approximately $556, which factors into escrow payments on mortgages. This ZIP code is located within Multnomah County. This is $3,682 more than the Oregon average of $2,995/year.

Compared to similar ZIP codes in Oregon, 97202 has lower property taxes. ZIP codes with similar effective rates include 97215 (0.98%) and 97060 (0.98%).

In Portland, property taxes represent approximately 6.7% of the median household income of $100,353, providing context for the relative tax burden on homeowners in this area.

Oregon's Measure 50 resets assessed value to market value at sale, then limits annual increases to 3%; Multnomah County will establish your new tax base at the purchase price. Multnomah County administers senior and disabled homeowner exemption programs with specific income and age requirements — contact the Multnomah County Assessor's office to confirm eligibility. Apply for any exemptions with the Multnomah County Assessor within 30 days of purchase and request your tax statement to confirm your assessed value baseline and any exemption offsets.